Some Weekend Reading

Always learning, always growing, right?

The Whitaker Group provides the argument that nuclear energy can buy African countries energy security and more:

Supporters see nuclear energy as a way for the continent to demonstrate technical progress and achieve energy sustainability. The move toward nuclear energy is also helping regional integration, as African countries cooperate to achieve the economies of scale required for nuclear power. This involves interconnected grids, joint education and training programs, and sharing technological expertise on safety measures.

These are good things, though we hesitate to recommend building plant to “demonstrate technical progress.” To whom and why? We expect African nuclear projects to bring in a good amount of expertise from European, American and Asian partners. And why not?

Whitaker can also be a touch condescending:

Of course, African countries should not pursue nuclear energy unless they have the capacity to maintain the highest standards of safety and quality…

We’re sure they’ll do their best to measure up.

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This is just getting underway, but will make for some plausible beach reading:

The National Institute of Standards and Technology (NIST) and the American National Standards Institute (ANSI) have published a report on the inaugural meeting of the Nuclear Energy Standards Coordination Collaborative (NESCC), a new ANSI Standards Panel, co-chaired by NIST and ANSI, to address the current and future standards needs of the nuclear energy industry.

Nothing like standards to make the heart race. Right now, committees are coming together and deciding stuff. That lends the reports a certain – er, quality (pdf):

Ms. [Fran] Schrotter [of ANSI] provided rationale for changing the name by explaining that the name change would provide more clarity of the forum’s role. Participants at the January 29, 2009 meeting felt that calling the forum a panel would indicate that the forum would be creating standards. The name change would clearly show that it’s a forum for coordination and collaboration.

Which means, we guess, that this is the Nuclear Energy Standards
Coordination Collaborative Forum.

Which indicates where they are in the process. Snark aside, very worthwhile – but nothing really to see here yet.

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Federal Liberal Leader Michael Ignatieff reaffirmed his support for nuclear energy before a receptive audience Thursday.

Who? What?

In his speech, Ignatieff criticized the current state of the nuclear industry in Canada, citing the shutdown of the Chalk River reactor in Ontario and the subsequent isotope crises. He said a lack of proper management of crucially important nuclear energy projects was causing Canada to lag in nuclear technology, despite being a global leader for decades.

[Provincial Energy Minister Jack] Keir and the provincial government have pushed hard to develop the Saint John energy hub, which aims to develop economic growth through various energy projects in the area. The nuclear reactor at Point Lepreau and a proposed second reactor are a large part of that.

Oh, Canada. Or perhaps that’s O, Canada. Michael Ignatieff is leader of the liberal party and an MP from Ontario. Clearly, his embrace of nuclear energy is not chimerical and New Brunswick is all over it.

That’s a pretty good way to kick off the weekend. After all, we did know this about New Brunswick and were happy to learn it. Perhaps we even grew a little.

Note: Mistake fixed. Michael Ignatieff is an MP from Ontario not New Brunswick as previously stated.

Michael Ignatieff. We’ve noted often that American politicians like to point in photographs. Do their Canadian opposite numbers prefer pretending to read?

Activists' Claims Distort Facts about Advanced Reactor Design

Below is from our rapid response team . Yesterday, regional anti-nuclear organizations asked federal nuclear energy regulators to launch an investigation into what it claims are “newly identified flaws” in Westinghouse’s advanced reactor design, the AP1000. During a teleconference releasing a report on the subject, participants urged the Nuclear Regulatory Commission to suspend license reviews of proposed AP1000 reactors. In its news release, even the groups making these allegations provide conflicting information on its findings. In one instance, the groups cite “dozens of corrosion holes” at reactor vessels and in another says that eight holes have been documented. In all cases, there is another containment mechanism that would provide a barrier to radiation release. Below, we examine why these claims are unwarranted and why the AP1000 design certification process should continue as designated by the NRC. Myth: In the AP1000 reactor design, the gap between the shield bu...

Fluor Invests in NuScale

You know, it’s kind of sad that no one is willing to invest in nuclear energy anymore. Wait, what? NuScale Power celebrated the news of its company-saving $30 million investment from Fluor Corp. Thursday morning with a press conference in Washington, D.C. Fluor is a design, engineering and construction company involved with some 20 plants in the 70s and 80s, but it has not held interest in a nuclear energy company until now. Fluor, which has deep roots in the nuclear industry, is betting big on small-scale nuclear energy with its NuScale investment. "It's become a serious contender in the last decade or so," John Hopkins, [Fluor’s group president in charge of new ventures], said. And that brings us to NuScale, which had run into some dark days – maybe not as dark as, say, Solyndra, but dire enough : Earlier this year, the Securities Exchange Commission filed an action against NuScale's lead investor, The Michael Kenwood Group. The firm "misap...

Nuclear Utility Moves Up in Credit Ratings, Bank is "Comfortable with Nuclear Strategy"

Some positive signs that nuclear utilities can continue to receive positive ratings even while they finance new nuclear plants for the first time in decades: Wells Fargo upgrades SCANA to Outperform from Market Perform Wells analyst says, "YTD, SCG shares have underperformed the Regulated Electrics (total return +2% vs. +9%). Shares trade at 11.3X our 10E EPS, a modest discount to the peer group median of 11.8X. We view the valuation as attractive given a comparatively constructive regulatory environment and potential for above-average long-term EPS growth prospects ... Comfortable with Nuclear Strategy. SCG plans to participate in the development of two regulated nuclear units at a cost of $6.3B, raising legitimate concerns regarding financing and construction. We have carefully considered the risks and are comfortable with SCG’s strategy based on a highly constructive political & regulatory environment, manageable financing needs stretched out over 10 years, strong partners...

NEI Nuclear Notes

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